Hardge Says He Is Now Reconnecting With Mullen

October 3, 2023

Lawrence Hardge says he is now reconnecting with Mullen Automotive (NASDAQ:MULN) after the company terminated the partnership in July.

“On July 10, 2023, Mullen Automotive Inc. issued a termination notice to Lawrence Hardge and the following entities Global EV Technology, Inc. and EV Technology, LLC terminating the Agreement dated April 17, 2023 between the Company and EVT,” the company said in a statement.

In May, MAEO named Lawrence Hardge to the position of Senior Vice President of Technology.

MAEO, which is split-owned by both Mullen Automotive and Global EV will no longer be doing business together, the company stated at the time.

Lawrence Hardge gained much attention after starting rumors of a $10 billion contract deal with Saudi Arabia.

“I’ve never reviewed any Saudi deals nor am I familiar with the deals, and to be clear if anyone were interested they could defer to the agreements that we executed that act as the definitive agreements until superseded by subsequent operating agreements and they are not cancelable unless we mutually agree to terminate the relationship which we’ve not done,” said Mullen CEO David Michery.

Now Hardge says he is reconnecting with Mullen Automotive with a few sources close to David Michery confirming the statements.

“Very soon, some of you gonna regret the manner in which y’all attacked Mullen…

I’m gonna do more EPA tests. My technology is now going into worldwide production. Mullen and I gonna reconnect where we left off.

Time to turn things around for the people who stuck with Mullen,” said Hardge on X, formerly known as Twitter.

MULN stock is currently down more than -99% this year-to-date despite several positive developments.

Also Read: Mullen CEO Clears the Air on New Saudi Deal

Mullen Announces It Has Now Delivered Its First Vehicles

In late September, Mullen Automotive announced that it has now delivered its first vehicles to Randy Marion Automotive, part of its $63 million purchase order.

The company said in a press release on Thursday that it delivered the first ten Class 3 EV Cab Chassis Trucks, invoiced at $630,000, to RMA Group.

The order was originally placed in May 2023 with the company planning to deliver an additional 150 units by year’s end.

1,000 of the remaining vehicles are anticipated to be delivered throughout 2024.

“This first delivery marks a watershed moment in the Company’s history with the Mullen THREE, Class 3 EV Truck being the first vehicle produced, assembled and now delivered by the Company.

Mullen THREE production is based out of Tunica, Mississippi, which is home to Mullen’s commercial vehicle assembly for both Class 1 EV Cargo Vans and Class 3 EV Cab Chassis Trucks,” said the company.

Recently, the Company achieved key milestones, furthering Mullen’s Class 3 program to market, including commencing of vehicle deliveries. These milestones include:

Received federal EPA certification on Sept. 22, 2023, approving Mullen’s Class 3 vehicles
Received IRS approval as “qualified manufacturer” on Sept. 14, 2023, enabling and qualifying for up to $7,500 in federal EV tax credits on both the Mullen Class 3 EV Cab Chassis Truck and Class 1 EV Cargo Van

“This is a significant point in our evolution as we shift the Company from engineering development and engineering approvals to production and vehicle deliveries for our customers.

As the Class 3 line is fully operational, production will be increasing month-to-month throughout the next year,” said David Michery, CEO and chairman of Mullen Automotive.

Mullen Automotive says it plans to add a second shift for Class 3 production, which will increase capacity to 6,000 total vehicles per year.

Also Read: Mullen CEO Says Balance Sheet Is Strong in New Update

Market News Published Daily 📰

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors. This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

You can also follow me on Twitter, Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.

More Market News 📰

Become a Sponsor for only $1/mo.

Gain access to EXCLUSIVE FrankNez articles you won’t find here.
Become part of a private and safe Discord community, just for retail investors.
Get drawn at the end of the year for holiday giveaways.

Become a Sponsor Today!